Polaris announces 2013 fourth quarter and year end results and conference call

VANCOUVER, March 6, 2014 /PRNewswire/ - Polaris Minerals Corporation (TSX:PLS) today reported financial results
for the fourth quarter and full year ending December 31, 2013. The
financial results are in US dollars unless otherwise noted.

Revenue in the fourth quarter of 2013 was $14.1 million, generating a
net profit of $339,000 and $1.7 million of cash from operations. Sales
in the quarter were 1.07 million tons, an increase of 87% over the
fourth quarter of 2012.

Revenue for the year ending December 31, 2013, was $44.9 million, an
increase of 39% over the $32.2 million recorded in the prior year.
Sales volume increased by 50% to 3.36 million tons compared with 2.24
million tons sold in 2012. The net loss attributable to shareholders
for the year was $8.2 million ($0.11 loss per share) compared with a
net loss of $12.2 million ($0.23 loss per share) for the year ending
December 31, 2012. At December 31, 2013, the Company had working
capital of $11.8 million, including $9.4 million of cash, compared with
working capital of $7.2 million at the prior year end.

Selected Quarterly Data (Unaudited)

(US$000, except per share amounts)

2013

2012

YTD

Q4

Q3

Q2

Q1

YTD

Q4

Sales

44,893

14,067

9,398

10,904

10,524

32,196

8,305

Gross profit/(loss)

24

1,234

(118)

(503)

(589)

(5,288)

(1,009)

Net profit/(loss)

(8,635)

339

(3,062)

(3,824)

(2,088)

(13,219)

(2,734)

Net profit/(loss) per share

($0.11)

$0.00

($0.03)

($0.05)

($0.03)

($0.23)

($0.05)

Herb Wilson, President and CEO, commented: "The fourth quarter of 2013
continued the momentum gained throughout the year and demonstrated the
Company's ability to generate gross and net profits, together with
significant cash from operations. The Company's major customers in the
San Francisco market project a continuing growth in demand in 2014,
which encourages us to believe that this year will be seen as another
milestone in the Company's development."

He continued: "We are on course to establish a new terminal in the Port
of Long Beach during 2014, an objective that has always been a key part
of the business plan. Our determination to enter this major market
area is predicated on evidence of growing construction activity in
southern California, particularly in the Los Angeles Basin. As demand
increases in all our principle market areas, we anticipate further
price growth, a trend from which we benefited throughout 2013. The
further recovery in construction provides greater opportunity for us to
benefit from the high quality of our aggregates and their
cost-effectiveness."

This financial summary should be read in conjunction with the Company's
December 31, 2013, Consolidated Financial Statements and Management's
Discussion and Analysis, both of which are available on www.sedar.com.

Conference Call

The Company will host a conference call on Friday, March 7th, 2014 at
8:00 am Pacific Time. Details to access the call live are as follows:

Via telephone by calling 1-888-390-0546 in North America or 416-764-8688

The webcast will be archived for 90 days following the call at the above
noted link. The conference call will also be recorded and available
for replay at 11:00 am PDT and will be available until March 21st,
2014. To access the replay, dial 1-888-390-0541 or 416-764-8677 and
use Access Code 853945 to hear the recording.

Polaris Minerals Corporation is exclusively focused on the development of quarries and the
production of construction aggregates in British Columbia for marine
transportation to urban markets on the west coast of North America to
meet local supply deficits. In 2007, Polaris began shipping sand and
gravel from the Orca Quarry to San Francisco Bay, Vancouver, BC and
Hawaii.

This press release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable
securities laws. These statements and information appear in this
document and include estimates, forecasts, information and statements
as to management's expectations with respect to, among other things the
future financial or operating performance of the Company, costs and
timing of the development of the proposed terminal in Long Beach,
California, the timing, volume and pricing growth of construction
aggregates, costs of production, capital and operating expenditures,
requirements for additional capital, government regulation of quarrying
operations, environmental risks, reclamation expenses, and title
disputes. Often, but not always, forward-looking statements and
information can be identified by the use of words such as "may",
"will", "should", "plans", "expects", "intends", "anticipates",
"believes", "budget", and "scheduled" or the negative thereof or
variations thereon or similar terminology. Forward-looking statements
and information are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and competitive
uncertainties and contingencies. Readers are cautioned that any such
forward-looking statements and information are not guarantees and there
can be no assurance that such statements and information will prove to
be accurate and actual results and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the
Company's expectations are disclosed under the heading "Risks and
Uncertainties" in the Company's Annual Report and under the heading
"Risk Factors" in the Company's Annual Information Form (AIF) in
respect of its financial year-ended December 31, 2013, both of which
are filed with Canadian regulators on SEDAR (www.sedar.com). The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements and information whether
as a result of new information, future events or otherwise. All
written and oral forward-looking statements and information
attributable to us or persons acting on our behalf are expressly
qualified in their entirety by the foregoing cautionary statements.

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